News

Jabre Capital, the hedge fund founded by former GLG Partners star trader Philippe Jabre, will hard close its Multi Strategy fund for two years. Jabre said the move was necessary to "remain nimble" in a fund that returned more than 85% last year.

Jabcap Multi Strategy, which lost 36% in 2008, currently manages US$2 billion.

The carried-interest tax loophole will not be closed, a member of the U.S. Senate Finance Committee said, which means that hedge fund and private equity fund managers won’t see their tax bills double this year.

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